myWealth.com, a New York-based provider of financial education courses, has raised $2 million from Five Elms Capital.
myWealth.com, (www.mywealth.com) a provider of affordable financial education courses aimed at helping consumers gain financial independence, disclosed it received $2 million in funding from Five Elms Capital.
Founded in 2008, myWealth will use the new capital to fund increased marketing spend and to supplement its existing course offerings in investing, financial planning, and foreign exchange trading.
“The investment from Five Elms provides us with both capital and a strategic partner who has strong experience in marketing and financial services,” said company CEO Brad Shulman.
Five Elms Capital will take an unspecified equity stake in the company. The firm, a spinoff from TH Lee Putnam Ventures, focuses its efforts on financial services, media / information, and technology-enabled business services.
myWealth’s courses are perfect for busy people who want an affordable way to take control of their financial future. Before myWealth launched, people typically had to pay hundreds, sometimes thousands of dollars, for finance and investing courses, often in inconvenient locations and at inconvenient times. myWealth offers convenient and interactive online classes for only $25. Each course consists of highly relevant content, interactive lessons, videos, and lively discussions in an easily accessible online format. Courses are taken by clients who come together from across the country to learn in a collaborative environment. The classroom is staffed by live, experienced instructors, who provide guidance and answers to all questions.
Five Elms said it decided to invest in myWealth due to the volatile market environment and the increased need for consumer financial education. “In this uncertain time, people are flocking to financial education in an effort to empower themselves and their financial future,” said Five Elms Managing Partner Fred Coulson. “We believe myWealth is uniquely positioned to serve this need, and at an affordable price.”
About Five Elms Capital
Five Elms Capital is a private equity firm focused on filling the void in smaller growth equity for businesses in the financial services, media / information, and technology-enabled business services sectors. (www.fiveelms.com)